Brits waste millions on holidays but save pounds on travel insurance

Most of us waste money while abroad because we are unfamiliar with local currencies, according to a new survey, but canny holidaymakers save money before they leave home by shopping around for the best value travel insurance.

Almost two thirds of us spend more than we budget for when on holiday, losing on average £15 per person per trip, according to a poll by American Express. Almost half of us admit we're confused by the currency conversion rate and one in three of us think we are short-changed when shopping overseas.

Amex Foreign Exchange vice president Helen Grace said: "The best way to avoid confusion when travelling abroad is familiarising yourself with the local currency before you leave.

It can be really difficult to stick to a budget when you are unsure of the currency rate and some find it hard to think of foreign currency as real money.""

One way to save cash is to decline the travel insurance offered by travel agents and tour operators, which charge high premiums and don't necessarily offer the best cover. Insurewithease offers comprehensive travel insurance from less than £6 for 7 days' cover.

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